Strategic Management (Batch 191)

As businesses and organizations become more volatile, uncertain, complex, and ambiguous, the ability to define a well thought yet agile strategic plan is a must for any organization to achieve its vision, mission, and objectives. This two-day course gives the participant a comprehensive look at strategic management as he/she goes through the various tasks involved in developing and maintaining a strategic management plan. This course is designed as a combination of lectures, activities, games, and discussions using the CASE method of learning – a teaching method used in the top business schools in the world.

At the end of this course, the participant should be able to:

  • Describe what is strategic management including its nature and benefits
  • Identify various drivers and motivators of strategic management
  • Identify similarities and differences of the various strategic management models
  • Perform environmental scanning using PESTEL, SWOT, and the VUCA framework
  • Describe the elements and importance of the Vision and Mission statement
  • Describe what comprises good strategic objectives
  • Describe various corporate level and competitive strategies
  • Describe how to implement and execute strategies
  • Describe how to monitor and evaluate the performance of strategic management initiatives

Course Outline

  • The evolution of Strategic Management
    • The nature of Strategic Management
    • Benefits of Strategic Management
    • Strategic Types
  • Drivers and Motivators of Strategic Management
    • The Dynamic Nature of the Market and the Business
    • The Triggering Events
    • Theory of the Firm
    • Technology and Innovation
    • The Product Life Cycle
    • Experience Curve
    • Economies of Scale
    • Best Operating Level
  • Strategic Management Model
    • Wright, Kroll, and Parnell Model
    • Thomson and Strickland Model
    • F.R. David Model
    • Wheelen and Hunger Model
    • Rayport and Jaworksi Model
    • Pitts-Lei Model
    • The Hybrid Model (Orcullo Model)
    • Strategic Plan – The output of strategic management models
    • Short, Medium, and Long-Term Plans
  • Task 1 – Environmental Scanning
    • PESTEL Analysis
    • SWOT Analysis
    • Porter’s Five Forces Analysis
    • VUCA Analysis
  • Task 2 – The Vision Mission Statement
    • The Need for a Vision-Mission Statement
    • Vision vs. Mission Statement
    • Elements of a Mission Statement
    • Elements of a Vision Statement
    • Examples of Vision-Mission Statements
  • Task 3 – Setting Strategic Objectives
    • The Need for Strategic Objectives
    • The Nature of setting Strategic Objectives
    • Strategic Intent vs. Strategic Thrust
    • Characteristics of Strategic Objectives
    • What is considered a good strategic objective
  • Task 4 – Crafting Strategies
    • Factors to consider in crafting strategies
    • Corporate Level Strategies
    • Competitive Strategies
  • Task 5 – Implementing and Executing Strategies
    • The Challenge of Implementing and Executing Strategies
    • Goals of Strategy Execution
    • Components of Strategy Execution
    • Determinants to successful Implementation of strategy
    • Implementing and Executing strategy
    • Who should be involved in implementing strategy
    • Ways to lead the implementation and execution process
    • Role of Policies in Aid of Strategy Execution
  • Task 6 – Monitoring, Evaluating, and taking corrective actions
    • The Need to Monitor
    • Use of Charts and Milestone Indicators
    • Considerations in Reporting Monitoring Activities
    • Strategy Audit
    • Balanced Scorecard as an Evaluation Tool
    • Evaluating Top Management
    • Some Key Indicators
    • Considerations for Financial Ratios
      • Liquidity Ratios
      • Profitability Ratios
      • Activity Ratios
      • Leverage Ratios
      • Other Ratios
    • Taking corrective actions

Who should attend

  • Company Executives
  • C Level professionals
  • Senior Management engaged in Strategic Management
  • Managers who would like to have a fundamental knowledge on Strategic Management

Course Fee is inclusive of AM/PM snacks, lunch, access to the xworks learning management system, digital course materials, and course certificates.